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BF Goodrich Buys Corning Business Unit (Sept. 8)



CHARLOTTE, N.C.---The BFGoodrich Company announced today that it has acquired the Electro-Optical (EO) Sensor business assets of Corning OCA Corporation. Corning OCA's EO business manufactures precision electro-optical instrumentation serving both space and military markets.

Terms and conditions of the acquisition, which furthers BFGoodrich's aggressive strategy in space systems, were not disclosed. Corning OCA's EO business has annual sales in the $10 - $12 million range.

This acquisition adds systems that allow for the use of stars for satellite orientation to BFGoodrich's product portfolio. Historically the company has offered products that use the earth and sun as the basis for orientation. This "star tracker'' system is critical to determining and maintaining the proper orientation of a satellite in deep space.

Additional new products also include elements for optical payload programs such as the Hubble Space Telescope, GEO Stationary Operational Environmental Satellite "GOES,'' Geo Science Altimeter System and the experimental Lidar-In-Space project. Military aerospace products for infrared and optical countermeasures, smart weapons and tactile surveillance on several platforms are also included.

Since entering the space in-flight systems market in 1997, BFGoodrich has steadily expanded both its market position and integration capabilities. Mike Piscatella, Electronic Systems Group President, stated, "This move is consistent with BFGoodrich's overall strategy to grow in space-related activities and in particular, areas contributing to subsystem and system integration. Recent acquisitions such as Ithaco Space Systems and Barnes Engineering have improved our offering to customers while yielding positive financial results.''

"This acquisition uniquely positions BFGoodrich as a space subsystems supplier with the ability to provide the three main sensors used for satellite orientation,'' said Al Daniels, President, Space Flight Systems. "This capability provides our customer with the flexibility to use a variety of sensor suites tailored to their needs.''

The BFGoodrich Company has its headquarters in Charlotte, North Carolina and employs 27,000 people worldwide. Its Aerospace Segment, which accounts for $3.6 billion of the company's $5.5 billion in annual sales, is one of the world's leading suppliers of components, systems, and services to the aerospace industry. BFGoodrich's other major businesses currently include Performance Materials and Engineered Industrial Products. In April 2000, the company announced plans to divest the Performance Materials Segment.

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BFGoodrich Acquires Assets of Corning'sElectro-Optical (EO) Instrumentation Business